News Summary: CSX railroad's 4Q profit down 3 pct
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Source: Business News
Originally published: Jan 22, 2013 - 4:50 pm
Originally published: Jan 22, 2013 - 4:50 pm
(AP) - COAL CONCERNS: CSX railroad says coal revenue fell 18 percent in the fourth-quarter, but growth in intermodal and merchandise shipments nearly offset that. CSX says net income declined 3 percent to $443 million, or 43 cents per share.
BEATING THE STREET: The railroad's results beat what Wall Street expected. Analysts surveyed by FactSet had predicted earnings of 39 cents per share.
HOPEFUL HAULER: CSX Chairman, CEO and President Michael Ward said the results show the railroad can respond well to challenging conditions. He'll provide details on a conference call Wednesday morning.
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